# Gold hits 3-mth low, copper slips as Powell flags more rate hikes By Investing.com

> Gold fell to a three-month low on June 28 after Powell said further interest rate hikes were possible. Copper also slipped on rate-hike fears and concerns about slowing global growth. Markets raised the probability of a 25 basis point hike at the July meeting to nearly 80%.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/35416-gold-hits-3-mth-low-copper-slips-as-powell-flags-more-rate-hikes-by-investing
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher dollar and yield expectations pressure precious and industrial metals, and signal weaker risk appetite across commodity markets.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-08-25 | [Gold drops after Powell leaves door open to more rate hikes](https://feedsoft.ai/events/34484-gold-drops-after-powell-leaves-door-open-to-more-rate-hikes.md) | -0.0% | +1.1% |
| DXY | 2018-02-27 | [Gold slides after Fed's Powell confirms gradual rate hikes](https://feedsoft.ai/events/66405-gold-slides-after-fed-s-powell-confirms-gradual-rate-hikes.md) | +0.1% | -0.1% |
| DXY | 2023-03-07 | [Oil and Gold Prices Slump As Powell Signals Further Rate Hikes to Come - Markets Insider](https://feedsoft.ai/events/36780-oil-and-gold-prices-slump-as-powell-signals-further-rate-hikes-to-come-markets.md) | +0.3% | -1.0% |
| DXY | 2026-04-29 | [Gold adds slightly to losses after Fed holds rates steady, but sees four dissents By Investing.com](https://feedsoft.ai/events/19645-gold-adds-slightly-to-losses-after-fed-holds-rates-steady-but-sees-four.md) | -0.1% | +0.3% |
| DXY | 2026-09-14 | [Copper Slips as Inflation Data Raises Bets on Fed Hiking Rates - Bloomberg](https://feedsoft.ai/events/17392-copper-slips-as-inflation-data-raises-bets-on-fed-hiking-rates-bloomberg.md) | +1.1% | +2.9% |

## Sources

- investing.com: https://www.investing.com/news/commodities-news/gold-hits-3mth-low-copper-slips-as-powell-flags-more-rate-hikes-3115823

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.